College Financial Aid
What is it ?
How do I apply ?
How can I prepare NOW ?
What is Financial Aid ?
1st we need two pieces of information:
The cost of attending college
minus
what the family can contribute toward
that cost
= Financial need
Financial Aid is...
… the attempt to meet
that financial need in
order to make it
affordable for the student
to attend a given
institution.
Cost of Attendance
Tuition
& Fees
Room &
Board
Books &
Supplies
Transportation
Miscellaneous
Personal Expenses
Loan
Fees
How to apply for Financial Aid
The FAFSA FORM
The CSS College Profile
The FAFSA Form
Stands for Free Application for
Federal Student Aid
It is a form similar to an Income
Tax Return
Must be completed by BOTH the
student and parent(s)
This document cannot be filed until
after January 1st
Before you submit your
FAFSA
You must have applied to a college
prior to submitting your FAFSA
application
Make sure you have included your
tax information for the year just
ended
Check that you have answered all the
questions on the form
Electronic
www.fafsa.ed.gov
*** TIME SAVER TIP *** if
applying to a college in NY State!
Bonus Time!
If you are planning to
attend a college in
New York State, you
will be asked after
completing your
FAFSA form “Do you
now want to go to
HESC (NY State site
for financial aid)
CLICK YES!
FAFSA Follow-Up
Once it is processed you should be able to
print out a Student Aid Report (SAR)
Check the statement for accuracy, if there
are any mistakes correct them line by line
and resubmit
Remember the FAFSA is processed for
free
The CSS College Profile
This is a document required by more
pricey private institutions
It may be filed early in the senior year as
soon as the student knows which school
he/she will be applying to
Please remember that The FAFSA must
still be filed
Two Categories of Aid
Non-need based
To recognize special skills, talent
or athletic ability
Need-based
Need to demonstrate financial
need
College Loans
It is important to stress that loans are an
integral part of almost all financial aid
packages
Remember education is an important
investment in the future of your child and
loans are not a bad thing
We take out loans to buy a car, a home and
many other things in life; this particular loan
pays a great return over the course of the
student's life
Students with a college education earn
considerably more during the course of
their lifetime than those without
Weigh the benefits of college loans
Federal Family Education
Loan Program
(FFELP)
Federal Stafford Loans
Subsidized vs. Unsubsidized
Scholarships
How to find them
&
How not to get taken!
Scholarships are given for:
Grades
Athletic Ability
1st Generation College Student
Other outstanding talents
They are based upon merit as
opposed to financial need!
How to find them
Talk with the financial aid counselors at the
college you are considering applying to
The local scholarships are posted in all three
guidance offices
The complete list of local scholarships and the
individual applications are available at our new
website: www.newburghschools.org
then click on the guidance link
The Internet
http://www.fastweb.com/
Don’t get ripped-off
Free Seminar
Application fees
Guaranteed
winnings
We have
information/sources
that no one else has
Claims of influence
with scholarship
sponsors
Sources of
Scholarships
The Colleges and Universities
Your employer, Union, or any
Organization that you belong to (i.e.
Rotary or Lions Club)
Local Scholarships which are offered
by service clubs and foundations in the
Newburgh/New Windsor area
Creative ways to reduce the
cost of college
Earn College credit
while in high school
(AP & Articulation
Programs)
The Montgomery GI Bill
Joining the Air National
Guard entitles you to
FREE SUNY tuition
Attend a Community
College for the first two
years
School Counselors are not
experts on financial aid !
Each college has a financial aid officer
with a staff who have great expertise
in financial aid.
You should not hesitate to contact the
financial aid office at a college or
University in order to have your
questions answered
Check our Website for more
http://www.newburghschools.org
If you have any questions, we’ll be here
to help you !
NFA Department
of
Counseling & Guidance